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Dec 12, 2012
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darren gersh, nbr, washington. >> susie: the fiscal cliff was certainly one topic on the agenda of the federal reserve today as policymakers kicked off their two-day meeting. tomorrow, the world will be waiting to see whether the central bank will do more to prop up the u.s. economy. the big question is whether the fed will stick with its so- called "operation twist" bond- buying program, or will it announce something new? erika miller takes a closer look at what's expected. >> reporter: the fed may announce a new twist in its bond buying plans, but that doesn't necessarily mean the stock market will shout. at it's final meeting of the year, the central bank is not expected to simply extend its operation twist program. that's the nickname for the fed's strategy of buying long- term treasuries and, at the same time, selling an equal amount of shorter-dated bonds. that's important because it keeps the bank's balance sheet the same size. now, the fed may be ready to do a new stimulus dance. >> under twist, they've been purchasing $45 billion longer term treasuries while at the same time s
darren gersh, nbr, washington. >> susie: the fiscal cliff was certainly one topic on the agenda of the federal reserve today as policymakers kicked off their two-day meeting. tomorrow, the world will be waiting to see whether the central bank will do more to prop up the u.s. economy. the big question is whether the fed will stick with its so- called "operation twist" bond- buying program, or will it announce something new? erika miller takes a closer look at what's expected....
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Dec 12, 2012
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we have to learn to stop worrying and love the fiscal cliff. the leaders i talked to today know their actions will take us over the cliff. i understand there is now perception among the media that the man who got every republican to pledge no new taxes is spent. the no tax increase republicans regard the stance as a birthright. a guy that is so anti-spend that he seemed to care more on these issues and more about the accountability for the disaster relief money. i can't really believe that. but a lot of guys down there will do anything to prove a point. but i can tell you there are enough garrets to force us over the cliff. given that the president is not going to let up. got a question either people don't know about the cliff or they believe that a deal will be done. and they that they have fulfilled the norquist pledge. where were the republicans when they refused to pay for the wars, cut taxes, took money from the chinese two, why didn't republicans press for spending cuts when the president extended the tax cuts? and why doesn't the preside
we have to learn to stop worrying and love the fiscal cliff. the leaders i talked to today know their actions will take us over the cliff. i understand there is now perception among the media that the man who got every republican to pledge no new taxes is spent. the no tax increase republicans regard the stance as a birthright. a guy that is so anti-spend that he seemed to care more on these issues and more about the accountability for the disaster relief money. i can't really believe that. but...
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Dec 12, 2012
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washington journal," ongoing negotiations on the so-called fiscal cliff. then, we hear from the associated press on how congressional leaders plan to handle social security as part of the talks. later, more on the role of social security ahead with the aarp and the heritage foundation. "washington journal" is live every day at 7:00 a.m. eastern. >> the white house was very controversial, as most things in america were. the man who designed washington city -- there was competition. he submitted a design for a palace. americans were not having a palace. it was not particularly odd inspiring. in fact, in 1821, a european diplomat told the congress it was neither large nor on inspiring. -- awe-inspiring. the congressman answered, the building served its purpose. if it were larger and more elegant, perhaps some president would be inclined to become its permanent resident. >> a former new york times book critic has gathered a few of her favorite white house photos. what sunday evening, at 7:30 eastern and pacific, on american history tv. >> the american enterpri
washington journal," ongoing negotiations on the so-called fiscal cliff. then, we hear from the associated press on how congressional leaders plan to handle social security as part of the talks. later, more on the role of social security ahead with the aarp and the heritage foundation. "washington journal" is live every day at 7:00 a.m. eastern. >> the white house was very controversial, as most things in america were. the man who designed washington city -- there was...
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Dec 12, 2012
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we need to avoid the fiscal cliff. we need to recognize reality. there is only so much that can be done the balance of this year. we need to do a credible down payment and build a bridge to a grand bargain which would involve a more fundamental reforms that have to be achieved. but it controls. we had but the controls until 2002. we had been out of control ever since. we have had democratic spending policies of republican tax policies which leads to large and growing deficits and escalating debt. we are going to have to reform the social insurance programs. we have to reduce defense programs and other spending and the gate in a comprehensive tax reform. that takes time. it will have to of all -- involve the extraordinarily presidential leadership which we have not had in a while. hopefully we will get that. it will involve some typhus citizens -- some type oc citizen -- type of citizen engagement. the good news is i recently took a 27 state national fiscal responsibility boss toure are round the country focusing on swing states. a representative gr
we need to avoid the fiscal cliff. we need to recognize reality. there is only so much that can be done the balance of this year. we need to do a credible down payment and build a bridge to a grand bargain which would involve a more fundamental reforms that have to be achieved. but it controls. we had but the controls until 2002. we had been out of control ever since. we have had democratic spending policies of republican tax policies which leads to large and growing deficits and escalating...
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Dec 12, 2012
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what are your latest thoughts on the fiscal cliff clavin as we call it? >> well, i think we have a lot to learn from what i would call the fiscal spliff from washington state. legalization of marijuana adds to the state's coffers or costs the federal government an equal amount of money to police it from a distance, that's going to be the curious one. so far as the fiscal cliff the dumbest thing -- the republicans are in a situation where you know they're giving two pages of -- we want this. remember, we just -- they're torn out like perforated from the paul ryan plan. they bring them in. okay, tomorrow we'll come back with more. these are the same pages only they have -- is that bourbon on them? >> stephanie: bourbon and cheeto stains on them. >> the truth is -- i think charlie pierce touched on it before. the dumb thing is that they don't immediately go for the middle class tax cuts and let those go through. but they can't give any ground and that, i think proves that boehner can't deliver the votes necessary to get anything through. >> stephanie: right.
what are your latest thoughts on the fiscal cliff clavin as we call it? >> well, i think we have a lot to learn from what i would call the fiscal spliff from washington state. legalization of marijuana adds to the state's coffers or costs the federal government an equal amount of money to police it from a distance, that's going to be the curious one. so far as the fiscal cliff the dumbest thing -- the republicans are in a situation where you know they're giving two pages of -- we want...